The crypto market looks better today following multiple periods of correction. At the moment of writing this article, Bitcoin is trading in the green and the king coin is priced at $40,794.
Now, it’s been reported that a popular crypto analyst just said that the conditions might soon be ripe for Bitcoin (BTC) to show more surges in price.
In a new strategy session, Nicholas Merten explained that BTC’s recent stagnation is nothing new and a normal part of the top crypto asset by market cap’s price cycle.
“The way Bitcoin and the broader market is acting at the moment right now, I’ve seen it too many times to count.”
He also said the following:
“Weak hands have flushed out those who are kind of trading and speculating in the short term, who are fearful of Bitcoin, the short-term holders.”
He also made sure to add the fact that whales tend to make massive purchases that jumpstart the market during the calm that generally follows significant price drops.
“The silence and sideways price action is what follows after you’ve had major corrections over 50% or more in price. You have silence for a little while, consolidation.”
He said that someone will definitely buy big amounts of BTC.
The analyst is also looking at the market from a macro perspective, and he said that further sell-side pressure in the face of dramatic worldwide news would make sense. On the other hand, he predicted that BTC to remain relatively steady.
Bullish Bitcoin predicitons ahead
There are more bullish predictions ahead about the price of Bitcoin.
It seems that the crypto market has the ability to resist in front of the geopolitical tensions that the Russia-Ukraine war is triggering for a while now.
More than that, Bitcoin and the crypto markets are rallying despite the huge volatility that we’ve seen lately. There are more bullish predictions about the price of Bitcoin these days.
